A new digital, end-to-end property completion tool is poised to launch in the UK.
iCOMPLETE says it is the first platform of its kind to co-ordinate the work of both estate agents and legal teams, and the only product capable of streamlining the completion process on any property transaction, for all sellers and buyers.
The company says that unlike other tools, their product is a truly end-to-end solution, with the whole of the completion process managed digitally through the unique software.
This includes new business generation, quoting, client onboarding, anti-money laundering checks, proof of funds, lender integration, property searches, queries, certificates, forms, document filing, e-signature, payment collection, invoicing and all communications between all parties.
As a result, the platform makes it possible for sales to be completed faster and more efficiently, enabling estate agents to increase revenue and improve cash flow.
The platform rewards agents financially for their services, crucially removing the need for any referral fee and enabling agents to compete nationally for completions outside their client database.
“Despite a number of attempts to modernise the process, property purchases are still frequently subject to lengthy delays. Extraordinarily, this is often caused by parties corresponding by snail mail or waiting for people to meet face-to-face.
“Unlike other solutions, our technology doesn’t just give estate agents and legal teams the ability to see where the causes of these delays lie, it actually gives them the power to prevent them from happening in the first place.” Said Daniel Bell, a director.
The platform integrates quickly and easily into estate agents’ own websites, with all component products available in a white label format. This makes it simple and cost-effective for agents to offer online quoting, either from their preferred conveyancing partners or from a full range of legal teams.
The platform also provides agents with the ability to communicate with clients and interested parties in real time via an array of in-built communication tools, including a client app, instant messaging and audio and video conferencing.
Meanwhile, automated notifications to a client’s mobile or email keep them abreast of every update in their case, and both buyers and sellers will be able to see their sales progression in a calendar.
These tools eliminate time-consuming postal, phone and email communications, while encouraging transparency and efficiency, and, critically, protecting clients’ privacy.
Additionally, other parties involved in the chain – the legal and agent team on the other side of the deal and their client – can be invited to track the progress of a case, further improving the information flow and trust between all parties.
Bell added: “Despite innovative technologies being successfully embraced elsewhere in the property sector, the completion process often remains inefficient and unsatisfactory for all involved.
“This is because the completion process is inherently complex, particularly when long chains are involved, which has made it extremely difficult to develop a solution that works for any transaction.
“Offering speed, efficiency and seamless communication from quote to completion, iCOMPLETE has been meticulously designed to tackle this complexity, and make a tangible difference to property professionals and their clients, regardless of the nature of the sale.”
The service will be fully operational and available to partner estate agents this autumn.
UPDATE 30th June 2020. The company informs us that the trading name has been changed to WeCOMPLETE